Member Info for redwineday

Yawn....

You don’t need to be an alchemist to cut costs starting with the overpaid executive management team.

I know the volume is diddly squat but watching this drift down day after day is so frustrating. We need some good news here to get it back to oh….40p. FFS…

I still don’t get why Budden is still there. Rich has been in place for coming up on 6 months. Seems plenty of time to me to find a new CEO.

Trade action not tented!

Looking at tented action it seems one of the it’s has decided they don’t want to give them time. 10% drop over few days and 59% off 52 week high

Pretty dire day. If this is Platinum unloading it could be going on for a while.

BoD need to get going. I agree, BOD needs further cleaning. How Child’s is still I situ is unbelievable after the mess he made of Buddens pay.

Surprised Nigel Rich hasn’t started the clear out yet. Hopefully news to come at FY results timing.

Certainly looks like one of the ii"s is unloading. Selling seems pretty relentless. We should be seeing a TR1 shortly.

Also if it were valueless to Foxtons why not just close it. Rather than remove some of the completion they have simply given a leg up to a new sales competitor for the sake of saving some redundancy payments. Pennies in the scheme of things.

Another Budden blunder!

This turned out to be yet another Budden/Barlow clanger. God knows how much was spafffed at c 50p average buy back price.

When you add in the 2m write down on the D&G transaction plus the buy backs plus the outrageous 2021 salary/bonus payments to Budden I am guessing we are looking at 5m wiped off the value of this business.

Time for Mr Rich to put an end to this nonsense.

And again today. Must 90% of trades. Somethings up methinks.

Interesting the amount of algo trading today. Someones taking an interest in the SP...

I think you are confused. Cash in hand is not the same as net cash. The apples to apples comparison is net cash which was 2020 34m, net cash 2021 20.9m. So the difference yoy is 13m.

However your underlying point is correct. YoY the cash position has deteriorated when then market is flying. My reading (one has to surmise at this point due to the complete lack of transparency in communication from the management) is the lack of big stones YoY. This highlights the problem here. GEMD and it’s share price is dependent on the hand of god in when and how many big rocks get pulled out of the ground.

If sold down here to a modest level. PDL IMO is a far better bet. More assets, more volumes, capacity for big finds at Cullinan and a now clean balance sheet with a clear route to re-rate as they have the cash to pay down debt when their debt agreements allow.

Holding here is like waiting for Godot or a bid!

You should be looking at the YoY numbers. Looks like a 360 turnaround to me. 10m less cash in the bank.

no

Gruvgunnar, I thought Harel was Gil but its you?

Tumbleweeds rolling around in Letseng? Only GEMD could be in the middle of a diamond bull market with results due tomorrow and have 9 trades on the board.

The chairman of the board here should be hanging his head in shame. Instead of representing shareholders he seems to represent sitting on his arse, collecting the cash and doing SFA.

Time for a BOD clearout. Where are you II's? Do your job!

I agree and topped up today.

London is coming back to life. You can feel it.
Rental values are on the up. I was offered 25% more by a tenant than currently paying at the end of his lease. Not much more than a year ago he was trying to negotiate 25% off! Sample size of 1 I know but...
Prices should follow and this will drive volumes, Saville f/c 8% for 22. I think this undercalls it. When it starts to move it should move quickly.
Budden heading for the door with HQ costs to follow.
New management dream team on the BoD
Possibility of Rollings as CEO. Even if this doesn't happen BoD will ensure replacement will be in their image.
Expect to see a new strategy presented at FY results time. Nationwide roll out beckons.

I think in 2-3 years or even sooner 40p will seem like a bargain. £2 target expressed by Hoskings seems very reasonable to me.

Incredible chart indeed. Yet GEMD SP is at exactly the same price today as on Jan 1 2021. The only way this can be explained is by the lack of large finds Vs 2020. So next Tuesdays results will be so important. GEMD need to be able to demonstrate an ability to generate a PE that does not rely on big stones alone.

Yes, could be him or PE and him.